Estimated time: 20 mins
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This calculator enables you to:
About this calculator - further
This calculator is designed to help you work out where your
money is going, and whether your income covers your expenses.
- Frequency: Nominate payment frequency
for each item - weekly, fortnightly, monthly, quarterly or
annually. (Note: your results will be distorted, if you do not
nominate the correct payment frequency).
- Documentation required: For the most
accurate picture of your financial position, check your payslip for
any deductions already made apart from tax (eg superannuation,
health insurance, and company cars). Add these amounts back to your
income and include them in your expenses instead.
- Save online budget: Save your budget
online to access your information from anywhere at a later
Your data saved to the MoneySmart database is safe and private
(refer to our Privacy
- Save Excel budget: Save your budget to
your computer by using the Excel version (Microsoft
Office (Excel) 2003 or higher). Your data will NOT be backed up to
the MoneySmart database, and you risk losing your information if
you lose or change your computer).
version allows for some customising (ie relabeling fields), and
can be shared via email (eg with your partner).
- Print: You can print your results for
Budget planner FAQs - frequently asked
Q: Can I change the name of an expense to make it easier to
A: At this stage you can only alter the Excel version. To change
an expense name or make a note next to it, click on the cell you
wish to change and type over the current wording. NOTE: The team is
working on allowing this functionality within the online version
and hope to release this soon.
Q: Can I sync my TrackMySpend data with my budget?
A: No, at this stage you will have to transfer expenses manually
to your budget planner. The TrackMySpend app is designed to help
you track your cash spending. The budget planner is a more holistic
long-term income and expense plan.
Q: Where do I find a previously saved budget?
A: Click on 'Select saved budget' (top right of the budget
planner) and select a previously saved budget from the drop-down
Q: If I open a saved budget and make changes, can I save it as
a separate version?
A: No, saving an amended budget will overwrite the selected
budget. If you want to save multiple versions, click on the 'New'
icon to start a new budget, you will then be able to save this
under another name.
Q: Will my budget save automatically?
A: No, you will need to click on the 'Save' icon if you wish to
save your budget.
Q: Can I set a monthly budget and compare this with actual
income and expenses?
A: No, the budget planner is designed to give you an idea of
what you spend your money on. We suggest you update your budget
with actual income and expenses on a regular basis to keep it as
accurate as possible. If you are looking for something more
detailed you may like to invest in bookkeeping software.
Last updated: 25 Feb 2014
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